Meta’s Reality Labs unit, focused on the metaverse, suffered a loss of almost $4 billion in the first quarter of the year, although the social media giant still managed to post a final profit of $5.7 billion. Mark Zuckerberg, the firm’s CEO, predicted that the operating losses for Reality Labs will continue to rise throughout the rest of the year, following a $14 billion loss in 2022. Despite this, Zuckerberg confirmed that Meta’s metaverse ambitions are still a top priority for the company, alongside their significant investment in artificial intelligence (AI) technology. Zuckerberg also noted that the development of the metaverse will enhance Meta’s AI capabilities and vice versa.
US district judge refers FTX independent examiner issue to appellate court
A motion for the appointment of an independent examiner in the bankruptcy case of crypto exchange FTX has been referred...
